Marine Hybrid Propulsion System Market Size, Share, Competitive Analysis 2023

Posted by Anvi on March 20th, 2020

Global Marine Hybrid Propulsion System Market Overview

The development of the maritime sector is accredited to the progress in technologies such as marine hybrid propulsion system. Market reports related to the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The Marine Hybrid Propulsion System Market Size is anticipated to advance at a 6.5% CAGR in the period of the forecast.

A marine hybrid propulsion system features both, a diesel engine and an electric motor for propulsion. Electric auxiliary power is generated by diesel generators sets. The electric motor can also act as a generator, through which the generators can produce less power. However, the main engines should then provide this power. Marine hybrid propulsion system is a new type of dynamic form. The hybrid propulsion system has been widely used in passenger ships, marine work ship and public service and so on. For different types of ships, the propulsion system of the host type and number, transmission mode, gear box device, the number of shaft and bearing as well as the propeller device models and numbers are not the same.

Marine hybrid propulsion systems are gradually emerging as one of the most preferred clean propulsion systems, globally and are being used in several vessel categories. One of the major advantages of using hybrid propulsion systems is their clean and efficient mechanism, which significantly lowers emissions as compared to conventional propulsion systems. Features such as silent maneuvering, emission-free operations, and lower degrees of fuel consumption have prompted vessel and towage operators to invest in this technology.

Leading Players in the Global Marine Hybrid Propulsion System Market analyzed are:

The significant competitors in the marine hybrid propulsion system market are Siemens AG (Germany), Caterpillar Inc. (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Torqeedo GmbH (Germany), Steyr Motors GmbH (Austria), General Electric Company (U.S.), Wartsila Corporation (Finland), ABB Ltd. (Switzerland), MAN Diesel & Turbo SE (Germany), BAE Systems (U.K), Schottel GmbH (Germany) and Rolls-Royce plc (U.K.).

Global Marine Hybrid Propulsion System Market Segmental Analysis:

The segmental analysis of the marine hybrid propulsion system market has been segmented on the basis of deadweight, type, ship type, application, and region.

By Type

  • Diesel-Electric
  • Gas-Electric
  • Others

By Deadweight

  • Less Than 5K DWT
  • 5K-10K DWT
  • More Than 10K DWT

By Application

  • Commercial
  • Logistics
  • Offshore Drilling
  • Naval
  • Others

By Ship Type

  • Anchor Handling Tug Supply (AHTS) vessels
  • Platform Supply Vessel (PSV)
  • Yachts
  • Motor Ferry
  • Cruise Liner
  • Small Cargo Ships
  • Naval Ships
  • Submarines

By Regions

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

Regional Analysis     

The regional analysis of the marine hybrid propulsion system comprises of regions such as North America, Europe, Asia Pacific and rest of the world.

The expansion of the market is attributed to the substantial growth in the application of hybrid marine propulsion system to the recently built ships coupled with the upsurge in marine activity globally. The market progress of marine hybrid propulsion system is principally accredited to the strict regulations for emissions at sea level, and also has improved the marine hybrid propulsion system market in several countries, which is expected to endure during the forecast years.

The European region has accounted for the chief share of the marine hybrid propulsion system market in 2016, where Norway, U.K., Poland, and other well-known shipbuilding nations added, to the market development. Moreover, the Asia Pacific region is expected to appear as one of the important markets for this technology owing to the present deployment of the advanced marine hybrid propulsion system in the recently built ships.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Like it? Share it!


About the Author

Joined: October 25th, 2019
Articles Posted: 461

More by this author